ES Journal Archive (2006 - 2008)

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You can have an edge but no plan.
You can have a plan but no edge.
Now you can have both and then lack the discipline.

Three elements of success in this biz.
 
Quote from hobber123:

Wave why is it that today we would see such bad times if we ever went to 800 but it wasn't so bad in 2003? always appreciative of your insight. TY
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In 2003 it was just tech that burst, no big deal, the internals were still intact, economy even survived 9/11 by pumping money into the system. Problem today is the system itself is cracking, money supply is tight, housing is hosed, banks are broke. This was not the case in 2003. If you read Depression Economics, we are setting up for a financial armageddon. Perhaps we go to a socio-capitalist economy under Obama.
 
Quote from trader_arb:

So basically we can go up a lot or down a lot. How do you trade this? Are you short now? Stop? Target for upside?

Serious questions.

(Did you hold short during rally from 1250-1440? I'm sure this blasted most shorts out of the water)
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This is why it's helpful to have stops etc posted. You'll notice that analysts on TV etc do not post entrties and stops and there is a reason for that.---
 
With all due respect I disagree. Assets in US money market funds stand at near all time highs at $3.5 trillion. Nothing is broken or changed, cash is king and markets will correct imbalances. Not the fed or government. Maybe not as quickly as our instant gratification society would like but markets work, always have and always will.


Quote from wave:

In 2003 it was just tech that burst, no big deal, the internals were still intact, economy even survived 9/11 by pumping money into the system. Problem today is the system itself is cracking, money supply is tight, housing is hosed, banks are broke. This was not the case in 2003. If you read Depression Economics, we are setting up for a financial armageddon. Perhaps we go to a socio-capitalist economy under Obama.
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Quote from hobber123:

Wave why is it that today we would see such bad times if we ever went to 800 but it wasn't so bad in 2003? always appreciative of your insight. TY
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Sorry for putting my oar in, but the original problem resides in the willful negligence of the redistribution problems stemming from productivity growth on the part of economic sciences. Hence it is not the question of 2003 or 2008 but more the question of increasing illiquidity and saturation of the markets in the course of time.
Just my 0,02
 
its odd that with the news out we are not down 200,if someone knew yesterday and sold it off to buy into today,which at the moment looks like accumulation,then we would have a big rally as the market is oversold and 1240 is a fib # for suport,i'm short and wish i had gotten out in the first hour,waiting for a dip to get flat and long, conversely they could be holding it up to unload,flip a coin,the mp profile yesterday was a p pattern,80% of the time the next day is up,funamentals(the banks solvency )trump ta EDIT on a 20 day 4 hr chart 6/25 and 7/7 highs,bring a tl in at 1250 for res,ignoring tue close and wed open
 
i sold my shorts and am neutral now, but something in the back of my mind says we're not done going down yet...doesn't have to be today, but...i have a hunch we're going down.

that's not a system, just a hunch. in a way, i hope i'm wrong...i hope we're turning the corner, but i don't think so....

fwiw, i agree that the markets are manipulated. and they're not done playing with us yet....
 
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